Non-Severable definition

Non-Severable means, with respect to any Modification, any Modification that is not a Severable Modification.

Non-Severable means property that cannot be removed after construction or installation without substantial loss of value or damage to the installed property or to the premises where installed.

Non-Severable means, with respect to any Alteration, any Alteration that is not a Severable Alteration.

Examples of Non-Severable in a sentence

• Title to any Non-Severable Modification shall be immediately vested in Lessor.

• All such Improvements that are not Non-Severable Improvements shall be removed by Lessee prior to the return of the item of Equipment hereunder or such Improvements shall also become the sole and absolute property of Lessor without any further payment by Lessor to Lessee and shall be free and clear of all liens and encumbrances whatsoever.

• The percentage of Portfolio Railcars in the aggregate (measured by Adjusted Value) contained on Non-Severable Mixed Riders shall not exceed twenty percent (20%) of the Portfolio Railcars in the aggregate (measured by Adjusted Value).

• If any such Improvement is made and cannot be removed without causing material damage or decline in value, utility or useful life (a "NON-SEVERABLE IMPROVEMENT"), then Lessee warrants that such Non-Severable Improvement shall immediately become Lessor's property upon being installed and shall be free and clear of all liens and encumbrances and shall become Equipment subject to all of the terms and conditions of the Lease.

• Title to any Non-Severable Modifications shall be immediately vested in Lessor.

More Definitions of Non-Severable

Non-Severable shall describe an Alteration or part of an Alteration or fixture, addition or improvement which (i) cannot be readily removed from the Leased Property without causing damage to the Leased Property or the Site which cannot be readily repaired, or (ii) is required for the Leased Property to comply with Applicable Law and Insurance Requirements.

Non-Severable characterization of an Independent Invention that cannot be exploited commercially without the use of Jointly Funded IP.

Non-Severable shall describe an Alteration or part of an Alteration which cannot be removed from the Property or the existing Improvements without causing material damage to the Property or Improvements; provided that Lessee’s Equipment and Personalty shall not be deemed to be Non-severable regardless of any damage that may be caused by the removal thereof.

Non-Severable means those fixtures, Alterations, additions and improvements and substitutions and replacements thereof relating to the Facility which (i) cannot be readily removed from the Facility without causing damage to the Facility or the Site unless promptly repaired by Lessee, or (ii) is required for the Leased Property to comply with Applicable Laws and Regulations and Insurance Requirements.

Non-Severable means regarding fixtures, Alterations, additions and improvements and substitutions and replacements thereof relating to the Improvements and Personal Property, those which (i) cannot be readily removed from the Improvements without causing damage to the Improvements or the Site which cannot be readily repaired, or (ii) are required for the Leased Property to comply with Applicable Laws and Insurance Requirements. “Obligations” shall mean, in each case, whether now in existence or hereafter arising: all payment and performance obligations of the Lessee Parties under the Operative Documents including, without limitation, (i) the Lessee Parties’ obligation to pay Deficiency payments, the Recourse Deficiency Amount, (ii) the Lessee Parties’ obligation to pay the Purchase Amount as the purchase price for the Leased Property, (iii) the Lessee Parties’ obligation to pay any damages

Non-Severable means regarding fixtures, Alterations, additions and improvements and substitutions and replacements thereof relating to the Facility and Personal Property, those which (i) cannot be readily removed from the Facility without causing damage to the Facility or the Site which cannot be readily repaired, or (ii) are required for the Leased Property to comply with Applicable Laws and Regulations and Insurance Requirements; for the avoidance of doubt, the foregoing shall not include any items of personalty (or their replacement) which were not paid for as part of Construction Costs during the period prior to the Completion Date.

Non-Severable means property that cannot be removed after construction or installation without substantial loss of value or damage to the installed property or to the premises where installed. “Precious metals” means silver, gold, platinum, palladium, iridium, osmium, rhodium, and ruthenium. “Property” means all tangible property, both real and personal.